It is ordinarily assumed that wealthy people will leave the majority of their assets to their children. However, if a wealthy person does not have any children, then something else needs to be done with the assets.
Most people in that situation have some idea of what they want to do. They have someone else in mind to inherit the assets or they have charitable causes they want to benefit as their legacy.
In China, a woman has decided to go a different route. She has taken out an advertisement for someone to be her adult daughter and to eventually inherit her wealth. The story was reported by Global Times in an article titled “Wealthy doctor posts ad seeking daughter to inherit fortune.”
The idea of adopting an adult to be your heir is not new. It used to be somewhat common in ancient times.
However, with modern estate planning in the United States you do not need to make someone your child for them to inherit your assets. You can designate whomever you wish in your estate plan.
If you would like to know how, contact Peak Legal Group at 610-580-4689. Jennifer will provide you with the wisdom and experience that comes with having “seen it all” when it comes to estate planning.
Reference: Global Times (January 27, 2015) “Wealthy doctor posts ad seeking daughter to inherit fortune.“